Solana (SOL) is currently displaying a price trajectory remarkably akin to that of Binance Coin (BNB), indicating it may be on the cusp of a significant breakout. With analysts noting a potential upward movement beyond $295, SOL’s technical pattern suggests intriguing opportunities for investors in the coming weeks.
Both SOL and BNB have shown a similar trend in their weekly price charts for over a year, as observed in a recent analysis by BitBull. This resemblance highlights a pattern that could signal a forthcoming surge for Solana, especially as it has closely followed the market structure established by BNB since early 2024.
Notably, both cryptocurrencies experienced a vigorous initial rally followed by a lengthy consolidation period characterized by sideways trading and corrective pullbacks. For BNB, this setup reached maturity in August 2025, as it surged past its previous all-time high of $794.30, ultimately exceeding $1,000 shortly thereafter.
Currently, Solana appears to be on the verge of entering a similar breakout phase. Analysts predict that its price could increase by approximately 20% within weeks, as it aims for a breakout above its existing record high around $295.
The pattern of investor behavior tends to reflect across various markets, with early exuberance attracting momentum, subsequent consolidations shaking loose weaker hands, and fresh liquidity reinitiating uptrends. Historical patterns also reinforce this theory; for instance, Ethereum (ETH) exhibited a significant price rise from approximately $10 to $400 in the first half of 2017 before entering a reaccumulation phase, eventually hitting around $1,400 by January 2018.
Solana’s current technical setup is indicative of a classic bullish continuation pattern known as a “cup and handle.” The “cup” phase in SOL’s chart originated from the prolonged bottoming process spanning from late 2021 to mid-2023, while the “handle” consolidation has been unfolding into early 2025. This formation has established a neckline resistance near $267, which SOL has persistently tested since November 2024.
A decisive close above this neckline could catalyze the next significant price movement, with a projected technical breakout target exceeding $540. This projection signifies a potential price increase of 120% from current levels, potentially occurring by the end of this year or early 2026.
Furthermore, it’s important to note that while SOL has experienced consistent gains, its weekly relative strength index (RSI) remains below the overbought threshold of 70. This suggests that there is still potential for further upward movement as the market matures.
As always, it’s essential for investors to conduct their own research and consider the inherent risks associated with trading and investing in cryptocurrencies. While signs point towards a promising ascent for Solana, market dynamics can shift rapidly.
